Sun TV network on Thursday purchase Hyderabad IPL franchises for 85.05 million rupees per year price. The whole process of finding a new franchise team began after cancellation of Deccan Chargers contract . IPL Governing Council meeting in Mumbai on Thursday started auction for new IPL franchises and highest bid was of Sun TV.
BCCI Secretary Sanjay Jagdale said in a statement that Sun TV network purchase Hyderabad franchisee for price of 85.05 million rupees per year. Jagdale said that Sun TV network's bid of 69.03 million bucks was more than PVP ventures bid of 69.03 million bucks.
Tender for new IPL franchises was issued by BCCI after cancellation of Deccan Chargers contract on 15th September, but the team-owned company DCHL challenged the decision in Bombay High Court.
